SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)--Titan Pharmaceuticals, Inc. (Amex: TTP) today announced that it has obtained commitments to purchase shares of its common stock in a registered direct offering for gross proceeds of approximately $11 million. Under the terms of the transaction, Titan will sell approximately 5,445,000 shares of its common stock at $2.02 per share to select institutional investors. The closing will occur upon the receipt of approval of listing of the new shares, and satisfaction of other customary closing conditions.
